SAN JOSE, Calif. – Apple Inc. posted record earnings in profits in its latest quarter, but warned it expects revenues to decline in the next three months.
Apple reported revenue of $28.57 billion and profit of $7.31 billion for the quarter ending June 25. That compares to revenue of $15.70 billion and net quarterly profit of $3.25 billion for the same period last year.
The company sold 20.34 million iPhones and 9.25 million iPads in the quarter. That's up 142 percent and 183 percent respectively from the same quarter last year.
Sales of Macs were up 14 percent to 3.95 million units. Continuing a trend of the last few years, sales of iPods were down 20 percent to 7.54 million units in a relatively saturated market.
The company's gross margins rose to 41.7 percent compared to 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
"We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent," said Steve Jobs, Apple’s CEO, in a press statement.
Despite the good news, Apple forecast declines for its fall quarter.
"Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50," down from $7.79 per diluted share in the current quarter, said Peter Oppenheimer, Apple’s CFO.
Apple, IPhones, IPods, IPads, Macs Apple posts record revenues, profits
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